REQUEST FOR CITY COUNCIL ACTION
DATE: 04/05/2023
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
SUBJECT:
Title
RELEASE OF THE IMPROVEMENT SECURITY POSTED BY ARANTINE HILLS HOLDINGS, LP FOR TRACT MAP 37030 LOCATED SOUTH OF EAGLE GLEN PARKWAY AND WEST OF INTERSTATE 15. (APPLICANT: ARANTINE HILLS HOLDINGS, LP)
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EXECUTIVE SUMMARY:
This staff report asks the City Council to accept the public improvements and release the appropriate public improvement securities associated with certain lots in Tract Map 37030. Arantine Hills Holdings, the master developer of the Arantine Hills development, also known as Bedford Communities, has completed the required street improvements and is requesting the release of the posted securities.
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Accept the public improvements associated with Lots H, L and N of Tract Map 37030.
b. Retain the Faithful Performance Security that was reduced by the City Council on May 6, 2020, for one-year from the date of acceptance of the improvements as security for repair and replacement of any improvements that fail to meet City standards at the end of the one-year period. (PB02497500613, PB02497500614, and PB02497500618)
c. Retain twenty-five percent (25%) of the original Faithful Performance Security that was reduced by the City Council on May 19, 2021, for one year from the date of acceptance of improvements as security for repair and replacement of any improvements that fail to meet City standards at the end of the one-year period. (PB02497500615, PB02497500616, and PB02497500617)
d. Retain the Labor and Material Security that was reduced by the City Council on May 6, 2020, for six months from the acceptance of improvements date and automatically release the security, unless any claims are filed. (PB02497500613, PB02497500614 and PB02497500618)
e. Retain the original Labor and Material Security that was reduced by the Ci...
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